Combined annual report for the Billy Boy Group, ML 22284, ML 30815, ML 30945 and ML 30938 GR393, 1 December 2015 to 30 November 2016

Abstract

The titles of the Billy Boy Group were acquired by Giants Reef Exploration Pty Ltd (Giants Reef) and Santexco Pty Ltd (Santexco) to search for Tennant Creek style iron oxide copper-gold deposits (IOCG). Giants Reef and Santexco are wholly owned subsidiaries of Emmerson Resources Ltd (Emmerson). This combined report records the exploration work completed on these titles during the period from 1 December 2015 to the 30 November 2016. The targets generated in the Billy Boy Group area exhibited geological prospective rocks and structures with overall rankings of Pprb's between 0.310107496 and 0.80479995, unfortunately the target ranking wasn't high enough for exploration activities to re-commence immediately. Emmerson is currently trialling the application of a new technology 'Archimedes' which is the application of a proprietary algorithm to geophysical data, this is done by the Archimedes group. The aim is to define the existence of ironstones at depth, whether magnetite or hematite and a more accurate representation of the position of such an ironstone in 3D space. Emmerson is trialling this at two separate areas, one in the Eastern Project Area (The Susan Block) and one in the Northern Project Area (Gecko Block). The success of this technology may have large implications for targeting techniques in the entire Tennant Creek Mineral Field, but more specifically the Billy Boy Group.